USD/CAD buy the dips towards 1.36/1.37 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Strategists at Westpac have suggested that pullbacks to the 1.36/1.37 area could be buying opportunities.

    Key Quotes

    “The bounce in WTI this week from a double bottom at $26 looks compelling in the short term though much will depend on today’s Doha talks between Saudi, Russia and Venezuela”.

    “We remain sceptical that we can see agreement here and remain inclined to fade strength. We still expect to see softer data (business surveys flag more soggy jobs reports in coming months) and thus a softer tone from the BoC on March 9”.

    “Thus risk reward still favours buying dips to 1.36/1.37 if seen though a break down through 1.3575/ 1.3640 would add to short term pain here”.
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